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Critical Facts You Need to Know About Preferred Stocks
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Rating
Sector Rating
Recommendation *
Avoid
Neutral
Fair
Quality
Rating Breakdown
Avg.
Relative Strength
The relative strength of a dividend stock indicates whether the stock is uptrending or not. The major determining factor in this rating is whether the stock is trading close to its 52-week-high.
Overall Yield Attractiveness
If a stock’s yield is above or near the market average then it will be rated higher within this parameter. High dividend yields (usually over 10%) should be considered extremely risky, while low dividend yields (1% or less) are simply not very beneficial to long-term investors.
Dividend Reliability
A stock’s dividend reliability is determined by a healthy payout ratio that is higher than other stocks. A company that pays out close to half its earnings as dividends and retains the other half of earnings has ample room to grow its business and pay out more dividends in the future.
Dividend Uptrend
A stock’s Dividend Uptrend rating is dependent on the company’s price-to-earnings (P/E) ratio to evaluate whether or not a stock’s dividend is likely to trend upward. If a stock is valued near, or slightly below the market average, research has shown that the market expects the stock’s dividend to increase.
Earnings Growth
A stock’s Earnings Growth rating evaluates a company’s expected EPS for the current financial year and compares it to next financial year’s expected EPS. Stocks with single-digit growth estimates will have a higher rating than others, as our research has shown that well-established dividend-paying companies have modest earnings growth estimates.
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Invesco S&P 500 BuyWrite ETF
ETF
PBP
Payout Change
Pending
Price as of:
$20.36
+0.32
+1.6%
primary theme
N/A
PBP (ETF)
Invesco S&P 500 BuyWrite ETF
Payout Change
Pending
Price as of:
$20.36
+0.32
+1.6%
primary theme
N/A
PBP (ETF)
Invesco S&P 500 BuyWrite ETF
Payout Change
Pending
Price as of:
$20.36
+0.32
+1.6%
primary theme
N/A
Name
Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
1.2%
1 yr return
-10.7%
3 Yr Avg Return
0.9%
5 Yr Avg Return
2.3%
Net Assets
$133 M
Holdings in Top 10
34.0%
52 WEEK LOW AND HIGH
$20.0
$18.91
$23.39
Expenses
OPERATING FEES
Expense Ratio 0.49%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 19.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
PBP - Profile
Distributions
- YTD Total Return 1.2%
- 3 Yr Annualized Total Return 0.9%
- 5 Yr Annualized Total Return 2.3%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.19%
- Dividend Yield 1.3%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameInvesco S&P 500 BuyWrite ETF
-
Fund Family NameInvesco
-
Inception DateDec 20, 2007
-
Shares Outstanding6250000
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerPeter Hubbard
Fund Description
The Fund generally will invest at least 90% of its total assets in securities that comprise the Underlying Index and will write (sell) call options thereon.
Strictly in accordance with its guidelines and mandated procedures, the Chicago Board Options Exchange, Incorporated (the “CBOE” or the “Index Provider”) compiles, calculates and maintains the Underlying Index, which is a total return benchmark index that is designed to track the performance of a hypothetical “buy-write” strategy on the S&P 500® Index. The Underlying Index is based on (1) buying an S&P 500 stock index portfolio, and (2) “writing” (or selling) the near-term S&P 500® Index “covered” call option, generally on the third Friday of each month. A “buy-write,” also called a covered call, generally is considered an investment strategy in which an investor buys a stock or basket of stocks, and sells call options that correspond to the stock or basket of stocks. In return for a premium, the Fund gives the right to the purchaser of the option written by the Fund to receive a cash payment equal to the difference between the value of the S&P 500® Index and the exercise price, if the value on the expiration date is above the exercise price. In addition, covered call options partially hedge against a decline in the price of the securities on which they are written to the extent of the premium the Fund receives. The Fund will write options that are traded on national securities exchanges.
As of June 30, 2022, the Underlying Index was comprised of 503constituents with market capitalizations ranging from $3.13 billion to $2.12trillion.
The Fund employs a “full replication” methodology in seeking to track the Underlying Index, meaning that the Fund generally invests in all of the securities comprising the Underlying Index in proportion to their weightings in the Underlying Index.
The Fund is “diversified” under the Investment Company Act of 1940, as amended (the “1940 Act”). The Fund may become “non-diversified” solely as a result of a change in relative market capitalization or index weighting of one or more constituents of the Underlying Index. Should the Fund become “non-diversified,” it will no longer be required to meet certain diversification requirements under the 1940 Act. Shareholder approval will not be sought when the Fund crosses from diversified to non-diversified status under such circumstances.
Concentration Policy. The Fund will concentrate its investments (i.e., invest 25% or more of the value of its total assets) in securities of issuers in any one industry or group of industries only to the extent that the Underlying Index reflects a concentration in that industry or group of industries. The Fund will not otherwise concentrate its investments in securities of issuers in any one industry or group of industries. As of April 30, 2022, the Fund had significant exposure to the information technology sector. The Fund’s portfolio holdings, and the extent to which it concentrates its investments, are likely to change over time.
PBP - Performance
Return Ranking - Trailing
| Period | PBP Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.2% | -2.8% | 240.8% | 43.48% |
| 1 Yr | -10.7% | -4.3% | 140.6% | 43.91% |
| 3 Yr | 0.9%* | -8.3% | 18.3% | 82.69% |
| 5 Yr | 2.3%* | -5.0% | 17.3% | 64.41% |
| 10 Yr | 5.0%* | -4.6% | 13.2% | 60.78% |
* Annualized
Return Ranking - Calendar
| Period | PBP Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2022 | -11.8% | -34.1% | 904.0% | 81.08% |
| 2021 | 9.5% | -28.6% | 438.4% | 64.16% |
| 2020 | -1.1% | -93.5% | 8.2% | 41.38% |
| 2019 | 3.6% | -38.9% | 19.8% | 75.97% |
| 2018 | -1.1% | -10.9% | 12.8% | 37.86% |
Total Return Ranking - Trailing
| Period | PBP Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 1.2% | -2.7% | 244.0% | 35.97% |
| 1 Yr | -10.7% | -4.3% | 140.6% | 41.30% |
| 3 Yr | 0.9%* | -8.3% | 18.3% | 80.77% |
| 5 Yr | 2.3%* | -5.4% | 17.3% | 62.71% |
| 10 Yr | 5.0%* | -4.6% | 13.2% | 60.78% |
* Annualized
Total Return Ranking - Calendar
| Period | PBP Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2022 | -11.8% | -34.1% | 904.0% | 81.08% |
| 2021 | 9.5% | -5.9% | 438.4% | 64.74% |
| 2020 | -1.1% | -81.2% | 8.2% | 55.17% |
| 2019 | 3.6% | -29.0% | 19.8% | 86.82% |
| 2018 | -1.1% | -10.9% | 12.8% | 55.34% |
PBP - Holdings
Concentration Analysis
| PBP | Category Low | Category High | PBP % Rank | |
|---|---|---|---|---|
| Net Assets | 133 M | 25 | 17.4 B | 32.58% |
| Number of Holdings | 506 | 2 | 508 | 0.76% |
| Net Assets in Top 10 | 27 M | -6.66 M | 5.12 B | 61.07% |
| Weighting of Top 10 | 34.01% | 11.3% | 100.0% | 78.00% |
Top 10 Holdings
- Apple Inc 7.06%
- Spx Us 06/17/22 C3885 6.86%
- Spx Us 06/17/22 C3885 6.86%
- Spx Us 06/17/22 C3885 6.86%
- Spx Us 06/17/22 C3885 6.86%
- Spx Us 06/17/22 C3885 6.86%
- Spx Us 06/17/22 C3885 6.86%
- Spx Us 06/17/22 C3885 6.86%
- Spx Us 06/17/22 C3885 6.86%
- Spx Us 06/17/22 C3885 6.86%
Asset Allocation
| Weighting | Return Low | Return High | PBP % Rank | |
|---|---|---|---|---|
| Stocks | 100.10% | -3.92% | 100.76% | 11.07% |
| Preferred Stocks | 0.00% | 0.00% | 3.08% | 32.82% |
| Other | 0.00% | 0.00% | 45.92% | 46.18% |
| Convertible Bonds | 0.00% | 0.00% | 20.91% | 35.50% |
| Bonds | 0.00% | 0.00% | 97.96% | 38.55% |
| Cash | -0.10% | -0.76% | 100.29% | 91.98% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | PBP % Rank | |
|---|---|---|---|---|
| Technology | 24.45% | 0.00% | 44.43% | 38.24% |
| Healthcare | 14.47% | 0.00% | 25.91% | 58.82% |
| Financial Services | 13.41% | 0.00% | 29.60% | 52.52% |
| Consumer Cyclical | 10.75% | 0.00% | 19.02% | 41.60% |
| Communication Services | 8.81% | 0.00% | 21.22% | 51.68% |
| Industrials | 8.19% | 1.41% | 43.91% | 39.92% |
| Consumer Defense | 6.90% | 0.00% | 22.87% | 53.36% |
| Energy | 4.80% | 0.00% | 69.54% | 52.10% |
| Utilities | 2.98% | 0.00% | 13.35% | 44.54% |
| Real Estate | 2.77% | 0.00% | 9.74% | 42.86% |
| Basic Materials | 2.47% | 0.00% | 60.58% | 43.70% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | PBP % Rank | |
|---|---|---|---|---|
| US | 98.92% | -3.89% | 100.00% | 13.74% |
| Non US | 1.18% | -2.17% | 99.33% | 40.84% |
PBP - Expenses
Operational Fees
| PBP Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.49% | 0.20% | 6.78% | 97.53% |
| Management Fee | 0.49% | 0.20% | 1.75% | 8.58% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.02% | 0.28% | N/A |
Sales Fees
| PBP Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 4.75% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 1.00% | N/A |
Trading Fees
| PBP Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| PBP Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 19.00% | 0.00% | 456.80% | 47.77% |
PBP - Distributions
Dividend Yield Analysis
| PBP | Category Low | Category High | PBP % Rank | |
|---|---|---|---|---|
| Dividend Yield | 1.27% | 0.00% | 3.76% | 4.46% |
Dividend Distribution Analysis
| PBP | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annually | Monthly | Annually |
Net Income Ratio Analysis
| PBP | Category Low | Category High | PBP % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.19% | -2.54% | 14.24% | 16.80% |
Capital Gain Distribution Analysis
| PBP | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 23, 2022 | $0.065 | OrdinaryDividend |
| Sep 23, 2022 | $0.068 | OrdinaryDividend |
| Jun 30, 2022 | $0.066 | OrdinaryDividend |
| Mar 31, 2022 | $0.070 | OrdinaryDividend |
| Sep 30, 2021 | $0.061 | OrdinaryDividend |
| Jun 30, 2021 | $0.067 | OrdinaryDividend |
| Mar 31, 2021 | $0.029 | OrdinaryDividend |
| Dec 31, 2020 | $0.090 | OrdinaryDividend |
| Sep 30, 2020 | $0.059 | OrdinaryDividend |
| Jun 30, 2020 | $0.058 | OrdinaryDividend |
| Mar 31, 2020 | $0.082 | OrdinaryDividend |
| Dec 31, 2019 | $0.960 | OrdinaryDividend |
| Sep 30, 2019 | $0.091 | OrdinaryDividend |
| Jun 28, 2019 | $0.088 | OrdinaryDividend |
| Mar 29, 2019 | $0.057 | OrdinaryDividend |
| Dec 31, 2018 | $0.088 | OrdinaryDividend |
| Sep 28, 2018 | $0.082 | OrdinaryDividend |
| Jun 29, 2018 | $0.080 | OrdinaryDividend |
| Mar 29, 2018 | $0.029 | OrdinaryDividend |
| Dec 29, 2017 | $0.085 | OrdinaryDividend |
| Sep 29, 2017 | $0.500 | OrdinaryDividend |
| Jun 30, 2017 | $0.473 | OrdinaryDividend |
| Dec 30, 2016 | $0.144 | OrdinaryDividend |
| Sep 30, 2016 | $0.079 | OrdinaryDividend |
| Jun 30, 2016 | $0.103 | OrdinaryDividend |
| Mar 31, 2016 | $0.043 | OrdinaryDividend |
| Dec 31, 2015 | $0.121 | OrdinaryDividend |
| Mar 31, 2015 | $0.034 | OrdinaryDividend |
| Dec 31, 2014 | $0.089 | OrdinaryDividend |
| Sep 30, 2014 | $0.320 | OrdinaryDividend |
| Jun 30, 2014 | $0.421 | OrdinaryDividend |
| Mar 31, 2014 | $0.025 | OrdinaryDividend |
| Dec 31, 2013 | $0.692 | OrdinaryDividend |
| Sep 30, 2013 | $0.340 | OrdinaryDividend |
| Jun 28, 2013 | $0.297 | OrdinaryDividend |
| Mar 28, 2013 | $0.039 | OrdinaryDividend |
| Dec 31, 2012 | $0.402 | OrdinaryDividend |
| Sep 28, 2012 | $0.090 | OrdinaryDividend |
| Jun 29, 2012 | $0.124 | OrdinaryDividend |
| Mar 30, 2012 | $0.099 | OrdinaryDividend |
| Dec 30, 2011 | $1.836 | OrdinaryDividend |
| Sep 30, 2011 | $0.071 | OrdinaryDividend |
| Jun 30, 2011 | $0.091 | OrdinaryDividend |
| Mar 31, 2011 | $0.027 | OrdinaryDividend |
| Dec 31, 2010 | $0.116 | OrdinaryDividend |
| Sep 30, 2010 | $0.065 | OrdinaryDividend |
| Jun 30, 2010 | $0.062 | OrdinaryDividend |
| Mar 31, 2010 | $0.053 | OrdinaryDividend |
| Dec 31, 2009 | $0.082 | OrdinaryDividend |
| Sep 30, 2009 | $0.065 | OrdinaryDividend |
| Jun 30, 2009 | $0.090 | OrdinaryDividend |
| Mar 31, 2009 | $0.093 | OrdinaryDividend |
| Dec 31, 2008 | $0.072 | OrdinaryDividend |
| Sep 30, 2008 | $0.058 | OrdinaryDividend |
| Jun 30, 2008 | $0.238 | OrdinaryDividend |
| Mar 31, 2008 | $0.053 | OrdinaryDividend |
PBP - Fund Manager Analysis
Managers
Peter Hubbard
Start Date
Tenure
Tenure Rank
Dec 20, 2007
14.45
14.5%
Peter Hubbard, Vice President and Director of Portfolio Management of the Invesco PowerShares Capital Management LLC. Mr. Hubbard has been a Portfolio Manager of the Adviser since June 2007 and has been associated with the Adviser since 2005. Prior to joining the Invesco PowerShares Capital Management LLC, Hubbard was a research analyst and trader for Ritchie Capital from September 2003 to May 2005.
Theodore Samulowitz
Start Date
Tenure
Tenure Rank
Aug 30, 2013
8.76
8.8%
Theodore Samulowitz is a Vice President and Portfolio Manager of Invesco PowerShares Capital Management LLC. He has been a Portfolio Manager of Invesco PowerShares Capital Mgmt LLC since May 2012. Prior to that, he was the Managing Partner of Endurance Capital Markets LLC from 2010 to May 2012 and a Portfolio Manager of CMT Asset Management from 2006 to 2010.
Michael Jeanette
Start Date
Tenure
Tenure Rank
Oct 02, 2013
8.67
8.7%
Michael Jeanette, Senior Portfolio Manager of Invesco Capital Management LLC, has been associated with Invesco Capital Management LLC since 2008. Prior to joining Invesco Capital Management LLC, Mr. Jeanette was a trust advisor and GM of Chicago based Richard Lamb, LLC from 1998 to 2007.
Tony Seisser
Start Date
Tenure
Tenure Rank
Aug 29, 2014
7.76
7.8%
Tony Seisser is a Vice President and Portfolio Manager of Invesco PowerShares Capital Management LLC since December 2013. Prior to joining the Adviser, he was employed by Guggenheim Funds Distributors, Inc. where he was a trader from 2010 to 2013. Prior to that, Mr. Seisser was a compliance investigator at the Chicago Board of Options Exchange and Chicago Futures Exchange from 2008 to 2010.
David Hemming
Start Date
Tenure
Tenure Rank
Sep 21, 2016
5.69
5.7%
David Hemming, Senior Portfolio Manager of the Invesco Capital Management LLC, Commodities and Alternatives.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.04 | 19.77 | 3.61 | 5.67 |
